Restructuring
Japan's DBJ and banks to form $1.18bn turnaround fund
The Development Bank of Japan is slated to launch a JPY100 billion ($1.18 billion) fund, specializing in local corporate restructuring and turnaround, in partnership with the Bank of Tokyo Mitsubishi UFJ and Sumitomo Mitsui Banking Corp., at the end of...
Korea's KDB buying Daewoo Engineering without fund platform
South Korean government-owned policy bank Korea Development Bank (KDB) will directly acquire Daewoo Engineering and Construction, previously controlled by the Kumho Asiana Group, which is currently struggling under substantial debts, rather than establishing...
TPG said to be supporting Alinta restructuring
TPG Capital has been in discussions with Alinta Energy, one of Australia's leading power generation groups, for its debt investment arm to support a restructuring of the business as it explores options, including asset sales, to pay off some A$2.7 billion...
Advantage steps back from Willcom's restructuring
Willcom Inc., the Japanese PHS (personal handy-phone system) operator 60% owned by the Carlyle Group, and now in Chapter 11 bankruptcy restructuring, will be supported by Softbank Corp., Japan's No.3 mobile phone operator, without the participation of...
TPG encounters hurdle in Vishal acquisition
Months after news surfaced that TPG Capital was set to link with distressed Indian superstore chain owner Vishal Retail, domestic retail brand Future Group, headed by prominent entrepreneur Kishore Biyani, has reportedly made an offer for the brand which...
Wise Partners backs Izumi turnaround
Japanese private equity firm Wise Partners will become the formal sponsor for the restructuring of Izumi Product Company, a manufacturer of electric shavers and other electrical appliances, following the latter's application for Chapter 11 bankruptcy...
TPG/AA JAL deal still flying?
TPG Capital and American Airlines' plan for a $1.4 billion turnaround investment in Japan Airlines (JAL), seemingly stalled, has received fresh impetus with JAL making a formal application for anti-trust clearance to Japanese regulators, so as to proceed...
Vishal Retail may turn to TPG, Indian investors for capital
Indian superstore chain owner Vishal Retail is considering linking with local and pan-regional investors, including private equity fund TPG Capital, within two to three months, to slash debt and raise capital following a fiscally-strained period.
J-Will pips Advantage, TPG for Anabuki
Japanese private equity player J-Will Partners, acting in consortium with major local apartment developer Daikyo Inc., has entered the winning bid for bankrupt developer Anabuki Construction, winning out over some 30 bidders including Advantage Partners...
Longreach targets Sanyo Logistics via tender offer
The Longreach Group, the Hong Kong-headquartered regional private equity firm, will launch a tender offer for Sanyo Electric Logistics, the JASDAQ-listed provider of logistics solutions, for a probable total transaction value of JPY17.9 billion ($200...
Japan's ETIC helps Senoh restructure
The Enterprise Turnaround Initiative Corporation of Japan (ETIC), the Japanese state-backed turnaround body, has decided to support Senoh Corp, a local sports equipment maker, in the third deal for ETIC to help a failing local company after its support...
Advantage, SoftBank plan $112.6 million investment in Willcom
Advantage Partners, the Tokyo-based private equity firm, and Japanese mobile phone carrier SoftBank will reportedly provide JPY5 billion ($56.3 million) each to Willcom, the struggling PHS (personal handy phone) business, which filed for bankruptcy with...
Apollo sees off Reliance challenge for LyondellBasell
Apollo Management and other creditors have rejected a bid from India's Reliance Industries for bankrupt Dutch chemicals firm LyondellBassell Industries, which valued the target at $14.5 billion.
Ant Capital will sell Honma Golf to PRC group
Ant Capital Partners, the Japanese private equity firm, and Milestone Turnaround Management, a Japanese business consulting firm specializing in turnaround situations, will jointly sell their more than 50% stake in Honma Golf Co., a privately-held golf...
Carlyle's Willcom files for Japan's Chapter 11
US buyout firm Carlyle Group's Japanese portfolio asset Willcom Inc., the PHS (personal handyphone system) service provider, filed for bankruptcy protection with the Tokyo District Court on February 8th, over debts of JPY173 billion ($1.9 billion) up...
New bids for Daewoo Engineering
According to Korean reports, the Korea Development Bank and other potential acquirers, including local conglomerate STX Group and a so-called TR America Consortium, are jockeying for position in a fresh round of bids for moribund Korean construction asset...
Industry Q&A: Benjamin Fanger
Benjamin Fanger, co-founder and MD of China-focused distressed investment fund Shoreline Capital Management, speaks to AVCJ’s Christina Kautzky
JAL still undecided
Japan Airlines has apparently not rejected any option out of the proposed business alliances offered by Delta Airlines and an American Airlines/TPG Capital consortium.
Second coming? China’s M&A market rebounds
China M&A is resurgent, observers say; but activity within it is much changed.
KDB digs into Kumho
Daewoo Engineering, Kumho Life on shopping list
No foreign money needed, says JAL
Neither the consortium of TPG Capital and American Airlines, nor rival Delta Airlines, seem to be immediately likely to pick up stakes in Airlines (JAL), the largest airline company in Asia, following the latest development initiated by the Enterprise...
No luck for TPG/AA JAL offer?
Japan Airlines Corp. (JAL) and Japan’s Enterprise Turnaround Initiative Corporation (ETIC) reportedly decided to pick Delta Air Lines Inc. as the capital alliance partner for the struggling airline, rejecting a $1.1 billion support proposal from American...
Cordiant to manage new Infrastructure Crisis Debt Pool
Montreal-based emerging markets specialist Cordiant Capital Inc, has been selected from a competitive pool of financial institutions worldwide to manage the new Infrastructure Crisis Facility Debt Pool created at the World Bank Group AGM in October.
TPG, AA up JAL offer
American Airlines CFO Tom Horton said publicly in Tokyo that his company and TPG Capital would increase their joint investment offer for struggling Japan Airlines, indicating up to $1.1 billion could be committed, much of it drawn from TPG.